Though it may be an obvious choice to feature a movie called Leprechaun 3 on St. Patrick's day, I've decided to stick with my instincts and do it anyway. Unlike most films, I actually prefer the third release in this overdone series of fright flicks as it really plays up the more mischievous side of the titular elfish prick (yes, I know leprechauns and elves are not the same thing) while maintaining a healthy does of death and despair. Its probably the closest that any of the films come to achieving primetime horror status, borrowing from the Nightmare on Elm Street formula of mixing supernatural evil, comedy and creative kills resulting in a healthy horror bodycount.
While Leprechaun is a classic, definitely worth multiple viewings in its own right, most of the other films in the franchise are plagued with poor production values and/or bad storylines (including the atrociously Troll-like fantasy spin in Leprechaun 2). However, its the stylistically Freddy Kruger-like slasher nuances of Leprechaun 3 that'll really make it stick with you.
I actually prefer this installment as well. The first film is my favorite of the 4 releases (the fourth film being one of the most bizarre entries and in SPACE no less), but 3 is very energetic and the kills are definitely creative (a pot of gold growing inside of a man's stomach? are you serious?). Lots of gore, grime, Vegas and Warwick Davis Magic make this one a definite MUST see on St. Patty's Day. Now we just need to see Jason and Freddy in Vegas and our lives will be complete.